40-2c29. RBC; rules and regulations; conditions.
40-2c29
40-2c29. RBC; rules and regulations;conditions.On and after July 1, 2009, the commissioner may adopt byrules and regulations, anylater version of the RBC instructions promulgated by the NAIC, which areconsistent with the provisions of this act, including the provisions of K.S.A.40-2c03, and amendments thereto, provided that before any later version may beadopted by the commissioner in rules and regulations, the commissioner shallprepare an impact statement indicating the projected impact upon domesticinsurers and notify any affected insurer of the projected impact. If theprojected impact is likely to cause the amount of a domestic insurer's totaladjusted capital or its RBC report for the previous year to vary by more than2.5% or to cause a domestic insurer's control level to change upon applicationof the later version of the risk-based capital instructions, then such laterversion shall not be adopted in rules and regulations until such later versionis approved by legislative action.
History: L. 2009, ch. 83, § 20; Apr. 23.